Royal Bank Of Canada (NYSE:RY) Hits New 12-Month High - Should You Buy?

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY's stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $133.36 and last traded at $131.83, with a volume of 735102 shares changing hands. The stock had previously closed at $132.64.

Wall Street Analysts Forecast Growth

RY has been the topic of several research analyst reports. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Finally, Scotiabank began coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Price Performance

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $186.75 billion, a PE ratio of 14.71, a PEG ratio of 1.51 and a beta of 0.89. The business has a fifty day moving average price of $126.67 and a 200-day moving average price of $120.56.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). The firm had revenue of $11.38 billion during the quarter, compared to analysts' expectations of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.92 EPS. Research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a dividend of $1.1152 per share. The ex-dividend date is Thursday, July 24th. This represents a $4.46 annualized dividend and a dividend yield of 3.37%. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 45.67%.

Institutional Trading of Royal Bank Of Canada

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Royal Bank Of Canada by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after buying an additional 3,387,971 shares during the last quarter. TD Asset Management Inc lifted its stake in Royal Bank Of Canada by 0.9% in the first quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock worth $3,549,520,000 after acquiring an additional 277,466 shares during the period. Norges Bank bought a new stake in Royal Bank Of Canada in the fourth quarter valued at $2,425,519,000. Bank of Nova Scotia increased its position in Royal Bank Of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after purchasing an additional 1,249,589 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its holdings in Royal Bank Of Canada by 3.4% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider's stock worth $1,423,464,000 after purchasing an additional 420,466 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.